PG&E Co. (NYSE:PCG) Receives Consensus Rating of “Moderate Buy” from Analysts

PG&E Co. (NYSE:PCG) has received a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $20.75.

A number of analysts have recently issued reports on the stock. Wells Fargo & Company reiterated an “overweight” rating and issued a $24.00 price objective on shares of PG&E in a report on Friday, April 25th. Guggenheim raised their target price on shares of PG&E from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Friday, April 25th. Evercore ISI lifted their price target on shares of PG&E from $15.00 to $17.00 and gave the company an “in-line” rating in a research note on Monday, April 28th. Jefferies Financial Group boosted their price target on shares of PG&E from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Finally, Morgan Stanley set a $18.00 price objective on shares of PG&E and gave the stock an “underweight” rating in a research note on Thursday, May 22nd.

Insider Transactions at PG&E

In related news, EVP Carla J. Peterman sold 32,519 shares of the business’s stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $17.30, for a total value of $562,578.70. Following the completion of the sale, the executive vice president now directly owns 151,116 shares in the company, valued at $2,614,306.80. The trade was a 17.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PG&E

A number of hedge funds and other institutional investors have recently modified their holdings of the company. New York State Teachers Retirement System increased its position in PG&E by 8.2% during the fourth quarter. New York State Teachers Retirement System now owns 1,974,070 shares of the utilities provider’s stock worth $39,837,000 after acquiring an additional 148,860 shares during the period. Atria Wealth Solutions Inc. acquired a new position in shares of PG&E during the 4th quarter worth approximately $466,000. Rhumbline Advisers grew its position in shares of PG&E by 5.7% during the 4th quarter. Rhumbline Advisers now owns 4,248,558 shares of the utilities provider’s stock worth $85,736,000 after purchasing an additional 228,099 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of PG&E by 14.5% during the fourth quarter. Cetera Investment Advisers now owns 101,240 shares of the utilities provider’s stock worth $2,043,000 after purchasing an additional 12,847 shares during the period. Finally, Savant Capital LLC raised its position in shares of PG&E by 6.9% in the fourth quarter. Savant Capital LLC now owns 27,113 shares of the utilities provider’s stock valued at $547,000 after buying an additional 1,739 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Price Performance

Shares of PCG opened at $16.55 on Wednesday. The stock has a 50 day simple moving average of $17.03 and a 200 day simple moving average of $17.63. PG&E has a 52-week low of $14.99 and a 52-week high of $21.72. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05. The firm has a market capitalization of $44.26 billion, a PE ratio of 14.39, a P/E/G ratio of 1.09 and a beta of 0.63.

PG&E (NYSE:PCG) last announced its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). PG&E had a net margin of 10.27% and a return on equity of 10.94%. The company had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $6.23 billion. During the same period in the previous year, the firm posted $0.37 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts predict that PG&E will post 1.49 EPS for the current fiscal year.

PG&E Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Monday, June 30th. PG&E’s dividend payout ratio (DPR) is presently 9.17%.

About PG&E

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.